MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Wednesday. The brokerage set a “buy” rating on the stock.

Other equities analysts have also issued reports about the stock. Brookline Capital Management lowered shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.00.

MEI Pharma Stock Up 2.8 %

Shares of MEI Pharma stock opened at $3.17 on Wednesday. The business’s fifty day simple moving average is $2.94 and its 200-day simple moving average is $3.03. The firm has a market cap of $21.11 million, a PE ratio of 1.19 and a beta of 0.85. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $7.87.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.48) by $0.35. As a group, equities analysts expect that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Trading of MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI increased its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the period. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. Institutional investors own 52.38% of the company’s stock.

MEI Pharma Company Profile

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.